Fundamentals Areas of Business Test 5

Result

Fundamentals Areas of Business Test 5

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Weekly Quiz Competition

Question 1
1 / -0

The objective of Human Resource Management (HRM) is/are -

A
To ensure effective utilization and maxi-mum development of human resources.

B
To identify and satisfy the needs of individuals.

C
To achieve and maintain high morale among employees.

D
All of above

Solution

Human resource or personnel management involves getting things done through people. It is a strategic method. It refers to the process of effective management of people in an organization.The objectives of Human Resource Management are -a) To ensure effective utilization and maximum development of human resources.
b) To identify and satisfy the needs of individuals.
c) To achieve and maintain high morale among employees.
Hence, D is the correct option.
Question 2
1 / -0

Which of the following activity is not included in human resource management?

A
Training and development

B
Appraisal of performance of employees

C
Resistance management

D
Motivation of workforce

Solution

Human resource management is a formal system is a term used to describe formal system devised for the management of people within the organisation.
The HRM is the process of hiring and developing employees so that they become more valuable to the organisation. It includes job analyses, planning personnel needs , recruiting the right people for the job, orienting and training, managing wages and salaries, providing compensation and incentives, evaluating performance etc. Hence human resource management includes training and development, appraisal of the performance of employees and motivation of workforce.
Question 3
1 / -0

Which of the following would be considered as external users of accounting information's?

A
Board of Directors

B
Shareholders

C
Finance manager

D
Sales manager

Solution

External Users of Financial statements are those people which are outside the affairs of the business but use accounting information.
Example: banks, shareholders, creditors, etc.
Question 4
1 / -0

The various feature of Human Resource Management (HRM) is/are:

A
It helps employees to minimize their monthly expenditure.

B
It is all about people at work, both as individuals and groups.

C
It tries to put people on assigned jobs in order to produce good results.

D
(B) & (C)

Solution

Human resource or personnel management involves getting things done through people. It is a strategic method. It refers to the process of effective management of people in an organization.The various features of Human Resource Management are:a) It is all about people at work, both as individuals and groups.
b) It tries to put people on assigned jobs in order to produce good results.
Hence, D is the correct option.
Question 5
1 / -0

The most popular type of media in terms of total hours of consumption per year is __________.

A
television

B
radio

C
Internet

D
newspaper
Question 6
1 / -0

______is the first main operative function of personnel management.

A
Training

B
Selection

C
Procurement

D
Development
Question 7
1 / -0

Which of the following is active factor of production?

A
Land

B
Labour

C
Capital

D
Organisation
Question 8
1 / -0

The prime objective of accounting is to _________________.

A
To record economic data

B
Provide the information basis of action

C
Classifying and recording business transaction

D
Attainment of economic goal

Solution

Accounting is an art of recording, classifying, summarizing and interpreting the data in a significant manner of money's worth business transactions.

The prime function of accounting is to classify and record all such business transaction. It plays an important role in providing appropriate information to the business for decision making.
Question 9
1 / -0

The appropriate objective of an enterprise is _________.

A
To maintain sales at minimum level

B
Maximisation of business wealth

C
To maintain the profits at one level

D
None of the above

Solution

Looking at all the options, the most appropriate one is the Maximisation of business wealth.
Well, whenever someone starts a business a lot of time, money and hard work is invested by the owner. So, definitely in return, the owner wants to maximize the profits.
Question 10
1 / -0

Short period market is also known as.

A
Village market

B
Weekly market

C
Town market

D
Retail market

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Re-Attempt Weekly Quiz Competition

Fundamentals Areas of Business Test 5

Result

Fundamentals Areas of Business Test 5

Score

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Rank

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SHARING IS CARING

Question 1

To ensure effective utilization and maxi-mum development of human resources.

To identify and satisfy the needs of individuals.

To achieve and maintain high morale among employees.

All of above

Solution

Question 2

Training and development

Appraisal of performance of employees

Resistance management

Motivation of workforce

Solution

Question 3

Board of Directors

Shareholders

Finance manager

Sales manager

Solution

Question 4

It helps employees to minimize their monthly expenditure.

It is all about people at work, both as individuals and groups.

It tries to put people on assigned jobs in order to produce good results.

(B) & (C)

Solution

Question 5

television

radio

Internet

newspaper

Question 6

Training

Selection

Procurement

Development

Question 7

Land

Labour

Capital

Organisation

Question 8

To record economic data

Provide the information basis of action

Classifying and recording business transaction

Attainment of economic goal

Solution

Question 9

To maintain sales at minimum level

Maximisation of business wealth

To maintain the profits at one level

None of the above

Solution

Question 10

Village market

Weekly market

Town market

Retail market

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